© Dukascopy Bank SA
- Bank of New York Mellon (based on Bloomberg)
Pair's Outlook
Pair started the week in a calm fashion and at the moment is hovering above the 55-day SMA. Despite the strength suggested by the technical indicators we do not expect that a rally will start any time soon. We are much more keen to expect further bearishness from the market participants, but the pair should not dip below 132.04 JPY.
Traders' Sentiment
Bulls once again hold majority in the market. At the moment they account for 55% of all market participants. Moderate majority (64%) of all pending orders are set in their favour as well.
© Dukascopy Bank SA